Transfer of a property: Is VAT or transfer duty payable?
A purchaser is responsible for payment of transfer cost when acquiring an immovable property, but it should further be established if the transaction is subject to the payment of VAT or transfer duty to SARS. When an immovable property is transferred, either VAT or transfer duty is payable. To determine whether VAT or transfer duty […]
I bought a property that has problems, what now?
A seller’s protection under the “voetstoots” clause in a deed of sale for immovable property is not as “absolute” as some might think. It is still the seller’s duty to inform prospective purchasers about all latent (hidden) defects in a property. A seller’s failure to do so could cost the seller in the long run, […]
Important steps for the transfer of property
The transfer process can take up to three-months, sometimes longer. There are different steps involved in the transfer of a property, these include: Instruction. A conveyancer receives the instruction to transfer the property. Communication. The conveyancer communicates with the various role-players involved in the transfer process, such as the seller, purchaser, transfer and bond attorneys, […]
When is a Tenant an Illegal Occupant?
Where the Contract of Lease is breached in any way by the tenant and he or she after receiving notice thereof has not remedied such a breach within the period agreed upon, then the landlord may cancel the contract. The tenant will be found to be an illegal occupier in this instance. Where a tenant […]
Why is the transfer of my property taking so long?
After signing a deed of sale, the purchasers often want to move into the property with great excitement and as soon as possible. When they are informed of the process involved prior to the property being transferred this may place a damper on their excitement. Coupled with this there may even be delays in the […]
Aanhegtings en toebehore
Baie oordragprokureurs het al hierdie vraag van ‘n verkoper gehoor: “Kan ek die stoof of die gordynrelings of die rakke of die… verwyder?” Die mees algemene dispuut wat tussen ‘n verkoper en ‘n koper ontstaan, gaan oor die vraag wat as aanhegtings en wat as toebehore beskou word. Die eenvoudige antwoord sou wees dat dit […]